Ultrapar Participações S.A. (BVMF:UGPA3)

Ultrapar Participações Financials Overview

Financials in millions BRL. Fiscal year is January - December.

Revenue & Profits

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Revenue Revenue Growth	153,258	142,370	133,499	126,049	143,635	109,733
Revenue Growth	10.94%	6.64%	5.91%	-12.24%	30.89%	48.17%
Gross Profit Gross Profit Growth	12,862	9,359	9,687	8,755	6,387	4,905
Operating Income Operating Income Growth	7,577	4,946	4,901	3,861	2,162	1,390
Net Income Net Income Growth	3,457	2,454	2,363	2,440	1,801	850.46
Earnings Per Share EPS Growth	3.18	2.24	2.11	2.21	1.64	0.78
EPS Growth	21.68%	5.99%	-4.26%	34.72%	111.41%	-4.91%

Revenue by Segment

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Ipiranga Ipiranga Growth	137,675	127,633	121,336	114,552	131,338	99,383
Ultragaz Ultragaz Growth	12,483	12,314	11,288	10,671	11,483	9,745
Ultracargo Ultracargo Growth	1,045	1,021	1,076	1,016	867.15	713.1
Waterways Waterways Growth	2,246	1,562	-	-	-	-
Others Others Growth	9.31	9.08	8.69	14.31	218.77	107.19
Eliminations Eliminations Growth	-199.89	-169.31	-209.99	-203.79	-272.57	-214.72
Total Total Growth	153,258	142,370	133,499	126,049	143,635	109,733

Cash & Debt

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Investments Cash & Investments Growth	9,251	7,027	4,379	6,219	6,142	4,084
Total Debt Total Debt Growth	19,563	21,833	15,346	13,295	13,278	17,729
Net Cash (Debt) Net Cash Growth	-10,313	-14,806	-10,967	-7,076	-7,136	-13,645
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share Net Cash Per Share Growth	-9.49	-13.52	-9.81	-6.40	-6.49	-12.44

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Operating Cash Flow Operating Cash Flow Growth	10,402	5,453	3,736	3,850	2,005	2,586
Capital Expenditures CapEx Growth	-1,925	-2,005	-1,787	-1,287	-929.24	-1,028
Free Cash Flow Free Cash Flow Growth	8,478	3,447	1,948	2,562	1,075	1,558
Free Cash Flow Growth	326.40%	76.93%	-23.96%	138.27%	-30.95%	-34.76%

Margins

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Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Gross Margin	8.39%	6.57%	7.26%	6.95%	4.45%	4.47%
Operating Margin	4.94%	3.47%	3.67%	3.06%	1.50%	1.27%
Pretax Margin	3.63%	2.68%	3.00%	2.84%	1.31%	0.92%
Profit Margin	2.26%	1.72%	1.77%	1.94%	1.25%	0.78%
FCF Margin	5.53%	2.42%	1.46%	2.03%	0.75%	1.42%

Dividends

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 3, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Dividend Per Share Dividend Per Share Growth	2.000	1.300	0.700	0.650	0.510	0.370
Dividend Per Share Growth	166.61%	85.71%	7.69%	27.45%	37.84%	-15.91%
Dividend Yield	5.58%	6.40%	4.98%	2.84%	4.78%	3.12%

Valuation

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Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep 3, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
PE Ratio	10.96	9.10	7.33	11.84	7.63	18.64
Forward PE	12.95	9.93	8.81	21.64	16.19	17.01
P/FCF Ratio	4.64	6.48	8.89	11.27	12.77	10.18
PS Ratio	0.26	0.16	0.13	0.23	0.10	0.14

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company.

Update frequency:

Quarterly

Last checked:

Sep 2, 2026

Data Sources Report a data error